HB 777 - Recordation Transaction Fees Summary

• Expands the $5 transaction fee for recordings in the Bureau of Conveyances and Land Court to apply to all services rendered, beyond just deregistered land court properties

• Broadens allowable uses of collected fees to include software, project management, implementation, staffing, workflow improvements, and record management/preservation services in addition to hardware and system design

• Exempts transaction fee collections from the $500,000 annual balance lapse requirement, allowing funds to accumulate in the Bureau of Conveyances special fund

• Repeals the transaction fee on the effective date of Department of Land and Natural Resources administrative rules establishing a transaction fee, or July 1, 2022, whichever occurs first

• Takes effect July 1, 2050